Sanlam has partnered with TymeBank, which aims to change its name to GoTyme, to launch a co-branded app.
The two companies will launch a superapp that unifies multiple financial services, including digital banking, payments to airtime, data purchases, bill payments, and credit. Merging TymeBank’s expertise in digital developments with Sanlam’s financial experience, the alliance aims to make financial services more accessible and user-friendly in South Africa.
Superapp for daily financial use-cases
The app is designed to simplify money management and embed digital finance into daily activities. For the wider market, the venture marks a shift in the continent’s digital finance journey. As firms seek to connect technology with traditional financial services, partnerships like Sanlam’s alliance with TymeBank are projected to shape the next generation of financial inclusion and digital developments in Africa.
Endeavor South Africa mentioned that this initiative shows how collaboration between fintechs and financial institutions can deliver better value, stimulate innovation, and accelerate market growth. This reflects that cooperation, rather than competition, fuels development and growth in the fintech space.
In 2024, Sanlam acquired a 25% stake in the unit that owns TymeBank, African Rainbow Capital Financial Services Holdings. The deal was valued at USD 218 million, according to the press release, adding value for shareholders as Sanlam was set to swap its investment for a higher-returning one at a reasonable price. At the same time, Sanlam leveraged TymeBank’s distribution network to sell insurance products to South Africa’s mass market.
Now, the bank aims to change its name to GoTyme in the first half of 2026 as part of its efforts to evolve its brand. The changes are still in the process of being finalised, and once internal and regulatory processes are complete, the bank mentioned it will share more details.
